Crystal Blockchain: "from 2011 years hackers and scammers have stolen crypto assets on $7.7 billion "

According to Crystal Blockchain, from 2011 years, criminals were able to steal about $7.7 billion in cryptocurrencies. Total has been done 113 hacks of cryptocurrency exchanges and implemented 23 major fraudulent schemes.

Crystal Blockchain specialists - Bitfury's analytical division - analyzed the largest attacks in the period from 2011 by 2020 the years, including cryptocurrency breakdowns, fraudulent schemes and pyramids. According to the report, In almost ten years, criminals earned on hacks of cryptocurrency sites $2.88 billion, And on fraudulent schemes - $4.8 billion.

The largest cryptocurrency pyramid was closed in 2019 year PLUSTOKEN scheme, gathered around $2.9 billion in BTC, ETH и EOS. The largest breakdown of the exchange remains the incident with the Japanese site of Coincheck in 2018 year, when hackers stole NEM worth about $535 million.

Income of criminals from hacks of exchanges and fraudulent schemes with 2011 by 2020 years and the number of registered incidents per year. Source: Crystal Blockchain.

The United States took first place in the number of incidents in the industry. FROM 2011 year cryptocurrency companies in the United States became victims of attackers 13 time. However, by the sum of the stolen crypto acts, China is the leader, What is mainly associated with cryptocurrency pyramids Plustoken and Wotocken. Also, many hacks of cryptocurrency exchanges and fraud occurred in the UK, South Korea, Japan and China.

The number of registered s 2011 by 2020 Years of Country Incidents. Source: Crystal Blockchain.

IN 75% Cases of attackers tried to withdraw stolen crypto assets through exchanges with a low level of verification. According to Crystal Blockchain, about 43% All stolen funds were washed through dubious exchanges, eg, BTC-E. At the same time, only only 3% stolen crypto assets, And through Darknet markets - about 1%.

In conclusion, analysts note, that for the past few years the number of cyber attacks for cryptocurrency projects remains relatively high. Most often, large cryptocurrency exchanges are hacking. Experts believe, that, taking into account the further growth of the industry, the number of crimes in the sector will grow.

According to analysts, Cryptocurrency exchanges should create special user money insurance funds, have a security service, blockchain analytics software, as well as reserves, equivalent to the number of cryptocurrencies, stored in the online storage. These mechanisms will prevent user loss in case of hacking.

Recall, that according to the analytical company Ciphertrace, Losses from cryptocurrency fraud decreased this year, However, the number of crimes in the Defi industry has grown.